Selling your marital home

While deciding to get a divorce might be the most difficult decision associated with the end of your marriage, it is by no means the only one. You and your soon-to-be ex-spouse must then determine how to deal with the assets and property you own together. If you are like most of the clients that we here at The Law Offices of Lorrie J. Zahodnic, P.C. work with, your most valuable marital asset is your home in Clinton Township. Contrary to popular belief, fighting to keep the house is not your only (and perhaps not even your best) option.

One of you keeping the house and refinancing the mortgage to remove the other from it

You both retaining ownership of it

Selling the house and splitting the proceeds equally

You might find that in your case, the third option is the most advantageous. You could both discover that paying for and keeping up on your house becomes much more difficult without the support of the other. Thus, selling it and moving on to a property that better suits your new situation might be best.

When preparing to sell your marital home, be sure to have your own valuation done. This protects you if your spouse attempts to sell then house for less than its worth in order to limit what you can make from it. If repairs need to be done, decide between to the two of you who will shoulder the costs. If you end paying for them (or doing them), your extra efforts should be considered when dividing up the proceeds of the sale.

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